Wednesday, 18 February 2009

Trades 18/Feb/2009

RCI (gap down)Gap down then retrace up to ema resistance. The 4th is weak doji and 5th is confirming weakness as it closes weak. This was our short trigger. The market strengthed subsequently, so I scaled out of partial and left the rest to run. It just went sideways for rest of the day, and I closed the rest at breakeven in the final session.

JACK (gap down)Weak first and 2nd is right at end of the first with weak looking upper wick. Short on a 2 bar break. A bit of a riskier setup than normal, so didn't use full position size. Scaled out as it closed back above the OR.

FRO (gap down)Gap down then OR break on 2nd. We get a retrace but 5th rejects the OR. The 6th is NR7 off the ema and is our short trigger. Initially it looked good, but then stopped out on the 8th.

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All views and information expressed on this blog represent my opinion and analysis, based on data available to me at the time of writing. The watch lists and chart setups are my own and are not in any way recommendations to buy or sell securities